Taking care of your health is a billion-dollar industry. Rather than waiting until they’re sick, then seeing a doctor, more people are becoming proactive about wellness every year. Just as pharmaceutical and medical device companies are growing dramatically due to an aging population, health and wellness treatments are evolving. If you’re interested in investing in health and wellness businesses that are set to continue expanding in the next decade, consider these popular treatment options and alternative therapies.
Cannabidiol, a derivative of hemp, has become one of the most touted healthcare products in the world. Because it doesn’t contain THC, the hallucinogenic part of marijuana, it’s legal in fifty states and most countries. You can ingest it, rub it into the skin in oils and lotions, vape it, or use CBD patches. It is often used for anxiety, insomnia, and chronic pain. However, there are at least a dozen other ways it is used. Because it’s sold as a supplement rather than a drug, it isn’t regulated by the FDA. It is readily available to a growing following. The popularity of CBD continues to grow and is now used to treat various conditions in pets as well as people.
Natural Health Services
This covers a broad range of treatments, many falling under medical spa treatments or alternative health treatments. These are usually administered in a clinical setting and monitored by medical personnel. The range of offerings is impressive, including hormone replacement therapy, ozone therapy, and chelation therapy. These services are promoted for their ability to improve your overall health while addressing specific problems such as fatigue and memory loss. These treatments are also hailed as enhancing your immune system, increasing overall health, and enhancing your senses. Institutions like The Institute of Natural Health have seen a dramatic increase in wellness protocols since the pandemic as more people focus on preventative medicine.
Health and Wellness Technology
It seems like everyone is wearing a FitBit these days, the wristband that monitors everything from your pulse rate to your sleep patterns. It’s just one of many forms of fitness technology that are helping people monitor their health and fitness progress easily. These health tracking devices, available under various brand names, are constantly adding new features, ensuring a growing market into the future. Other technologies to watch include the new generation of wearable glucose monitors for diabetics and apps that help you meditate.
The pandemic has permanently altered the way doctors meet with their patients. Millions of patients had to meet with their physicians online during quarantine periods. As a result, multiple telehealth solutions hit the marketplace. These apps enabled doctors and patients to interact via computer via virtual consults. These same apps allow patients to do everything from pay bills to submit paperwork from home. With an aging population and diminishing numbers of doctors in rural areas, telehealth services will continue to expand well into the future.
Healthful Food & Beverages
In the next decade, it’s not going to be about brutal juice cleanses. The focus will be on healthful drinks such as smoothies that boost the immune system and provide plenty of vitamins and minerals. These nutritional supplements disguised as delicious treats fill a powerful niche – people want to take better care of themselves and be kinder to themselves. Combining a pleasant treat with a health boost is all the rage after two years of deprivation, and the trend will continue to grow.
If you think virtual reality is primarily about gaming, think again. VR headsets and various exercise programs are quickly becoming convenient and fun alternatives to visiting the gym. With VR, you can exercise anytime, anywhere, accessing subscription exercise and training programs via the Internet or downloading them for personal use at any time. The advantages are unmistakable, including not having to worry about the weather and being able to exercise without an audience. As virtual reality quality improves, VR equipment will continue to evolve and increase in popularity.
With a renewed interest in health and wellness, the next decade is poised for new innovations offering valuable investment opportunities.